New Century Financial Group LLC bought a new position in Alphabet Inc. (NASDAQ:GOOG - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,195 shares of the information services provider's stock, valued at approximately $212,000.
A number of other institutional investors and hedge funds have also made changes to their positions in GOOG. Kingstone Capital Partners Texas LLC boosted its stake in shares of Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock valued at $23,963,208,000 after buying an additional 135,064,454 shares in the last quarter. Nuveen LLC acquired a new stake in Alphabet in the first quarter valued at $2,622,943,000. Vanguard Group Inc. boosted its position in shares of Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock worth $64,299,725,000 after purchasing an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after purchasing an additional 9,243,959 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of Alphabet during the 1st quarter worth $369,713,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Price Performance
Alphabet stock opened at $246.45 on Monday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $256.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a 50 day moving average price of $221.89 and a 200 day moving average price of $187.31. The company has a market cap of $2.98 trillion, a price-to-earnings ratio of 26.25, a PEG ratio of 1.66 and a beta of 1.00.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter last year, the firm posted $1.89 earnings per share. Alphabet's revenue was up 13.8% on a year-over-year basis. Sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet's dividend payout ratio is currently 8.95%.
Insider Activity
In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the sale, the chief executive officer owned 2,527,392 shares of the company's stock, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock valued at $59,135,475 in the last three months. Corporate insiders own 12.99% of the company's stock.
Analyst Ratings Changes
A number of research firms recently commented on GOOG. KeyCorp set a $265.00 price objective on shares of Alphabet in a report on Wednesday, September 3rd. Pivotal Research boosted their price target on Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Alphabet in a research note on Wednesday, July 9th. Roth Capital restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Robert W. Baird lifted their price target on Alphabet from $215.00 to $275.00 and gave the stock an "outperform" rating in a research note on Monday, September 22nd. Five research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $235.33.
View Our Latest Stock Report on Alphabet
About Alphabet
(
Free Report)
Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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